Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, May 8, 2020.Calvin Sit | Bloomberg | Getty ImagesJustin Sun’s crypto company Tron is set to hit the public market through a reverse merger with a manufacturer of custom toys and souvenirs for the world’s biggest theme parks.SRM Entertainment, a Nasdaq-listed merchandise supplier that has licensing deals with Disney, Universal Studios (owned by CNBC parent NBC Universal) and SeaWorld, said on Monday that it will raise $100 million from a private investor to buy TRON tokens, and will issue preferred shares and warrants that value the…
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Billionaire Ken Griffin , founder and CEO of Citadel, said playing defense is not the best strategy during times of turmoil and volatility, and it almost always backfires on investors. “In finance, when you’re playing defense, you’re almost certainly losing,” Griffin said to Citadel’s new class of summer interns Thursday evening. “There’s no other way to put it. Every time a portfolio manager tells me ‘I’m going on defense,’ I’m waiting to watch the red because that tends to be what happens next.” Griffin, whose hedge fund oversees $66 billion in assets as of June 1, thinks cash would be…
A United Launch Alliance Atlas V rocket is shown on its launch pad carrying Amazon’s Project Kuiper internet network satellites as the vehicle is prepared for launch at the Cape Canaveral Space Force Station in Cape Canaveral, Florida, U.S., April 28, 2025. Steve Nesius | ReutersUnited Launch Alliance on Monday was forced to delay the second flight carrying a batch of Amazon’s Project Kuiper internet satellites because of a problem with the rocket booster.With roughly 30 minutes left in the countdown, ULA announced it was scrubbing the launch due to an issue with “an elevated purge temperature” within its Atlas…
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — Good morning, the events unfolding in the Middle East over the past week have led to sharp price gains for a few of the names on our Best Stocks list. In recent weeks, we’ve written about Axon Enterprise (AXON) and RTX Corp (RTX) , two aerospace and defense names that were on the verge of major breakouts at the time we wrote them up about a month ago. Well, those breakouts have happened. I’ll update my…
Quality companies with strong returns are getting harder to find, according to Citi Research. Return on equity, considered to be a profitability metric calculated by dividing a company’s net income by shareholders’ equity, is “increasingly scarce” among big-name stocks now, Citi U.S. equity strategist Scott Chronert wrote in a recent note to clients. “Stocks where ROE is expected to improve due to margin expansion and/or total asset turnover gains are becoming less abundant in the S & P 500. This is largely a function of downgraded outlooks on softer macros and trade concerns,” Chronert said. Fewer companies in the broad-market…
Here are some of the stocks making the biggest moves in midday trading Monday: Meta Platforms — Shares of the social media giant jumped 2% after Meta said it would bring advertising to WhatsApp . The company will also start monetizing WhatsApp’s Channels feature through search ads and subscriptions. MGM Resorts — The casino operator’s shares advanced more than 7% after BetMGM LLC, which is jointly owned by MGM and Entain, updated its guidance for the full year. Net revenue for BetMGM is now expected to be at least $2.6 billion, up from the earlier outlook of $2.4 billion to…
Hennepin County Attorney Mary Moriarty announces plans to bring first-degree murder charges against Vance Boelter, the suspect in the shooting deaths of Democratic assemblywoman Melissa Hortman and her husband Mark, in Minneapolis, Minnesota, U.S., June 16, 2025. Tim Evans | ReutersFederal prosecutors on Monday charged the man accused of assassinating a Minnesota state lawmaker and her husband, and shooting another lawmaker and his wife, with six federal counts, including stalking, murder and firearms offenses.Vance Luther Boelter, 57, is facing both state and federal charges in the assassination of Minnesota Democratic state Rep. Melissa Hortman and her husband, Mark, and the shooting of Democratic…
Cisco Systems’ targets are looking more realistic while the stock trades at an “undemanding” valuation, according to Deutsche Bank. The firm upgraded the digital communications stock to buy from hold in a Sunday note, and increased its price target to $73 per share from $65, suggesting shares will rise 14% from Friday’s $64.09 close. CSCO YTD mountain Cisco Systems stock in 2025. Analyst Matt Niknam said the company has “improved visibility towards durable mid-single-digit growth in upcoming years, with tailwinds from AI.” This outlook underpinned the stock upgrade, but he also pointed to “more favorable near-term competitive dynamics in networking…
Aden McCracken Tyrone of Pennsylvania holds a sign in honor of his parents outside of the U.S. Supreme Court on December 4, 2023 in Washington, DC. Michael A. McCoy | The Washington Post | Getty ImagesPurdue Pharma has won support from the attorneys general of 55 U.S. states and territories for its $7.4 billion settlement to resolve thousands of opioid lawsuits against the drugmaker and its owners, members of the Sackler family.A framework for the settlement had been announced in January by New York Attorney General Letitia James and other states, and the support announced on Monday could help Purdue Pharma…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s Phil LeBeau chats with StandardAero CEO Russell Ford to discuss why the engine maintenance business has done well, business challenges and much more. Source link
